Want China Times
Taiwan’s National Financial Stabilization Fund will not be withdrawn from the country’s stock market before the middle of October, the country’s deputy finance minister Wu Tang-chieh, who manages the fund, said Monday.
Wu made the remark as Taiwan shares dropped to below the 8,300-point mark at one point that day amid weak showings in Asian bourses following tumbles on Wall Street and in European markets.
Since the National Financial Stabilization Fund Committee authorized the fund Aug. 25 to buy stocks in order to prop up share prices in Taiwan amid heavy volatility in global markets, the local stock market’s performance has been relatively stable, according to Wu.
The committee will keep close tabs on developments in the global economic situation and the domestic stock market now that the US Federal Reserve decided last week to leave key interest rates unchanged, Wu said. [FULL STORY]